Loan Balance Transfer Calculator
Check whether moving your loan to a lower interest rate saves money after the processing fee.
Enter values to see the result.
About the Loan Balance Transfer Calculator
If another lender offers a lower interest rate, transferring your outstanding loan to them can cut your EMI and total interest — but a processing fee can eat into the savings. This calculator compares staying put against transferring, after the fee, so you know whether the switch is actually worth it.
How to use it
- Enter your outstanding principal and current interest rate.
- Enter the new rate the other lender offers.
- Set the remaining tenure and the new lender's processing fee.
- See the EMI and total cost both ways, and the net amount you save.
Borrowers a few years into a home or personal loan use this when banks advertise lower rates, to check if a balance transfer genuinely saves money once fees are counted. Everything runs in your browser, so your loan details stay private.
Frequently asked questions
When is a balance transfer worth it?
Generally when the rate difference is at least 0.5-1%, you have a long tenure remaining, and the interest saved comfortably exceeds the processing fee. This tool shows the net figure for your case.
What costs are involved?
Mainly a processing fee on the new loan (often 0.5-1% of the amount). There may also be a foreclosure charge on the old loan, which this calculator doesn't include — confirm with your bank.
Does a balance transfer affect my credit score?
Applying involves a fresh credit enquiry and closing the old loan, which can cause a small temporary dip, but timely EMIs on the new loan rebuild it quickly.
Is my data private?
Yes. The comparison is done locally in your browser and nothing is uploaded.